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On June 1, Krissy Company borrowed $240,000 cash by signing a 10-year, 9% note. Prepare (1) the journal entry to record the initial transaction
On June 1, Krissy Company borrowed $240,000 cash by signing a 10-year, 9% note. Prepare (1) the journal entry to record the initial transaction and then prepare (2) the adjusting entry required on June 30 which is the end of the fiscal year.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
